Hundreds of businesses rely on Guided Imports to transport their goods safely out of China every year.
Accidents can happen and China freight insurance offers an inexpensive way to protect your cargo from catastrophic loss. Keep reading to learn more about how to protect your investment with cargo insurance from China.
What is Freight Insurance?
Freight insurance protects shippers by utilizing a company to provide a guarantee of compensation for specified loss of their cargo during the logistics process. In the event a shipment is lost, stolen or damaged, shippers can use their insurance compensation to recuperate their losses.
Insurance for All Shipping Types
Insurance for land, air, and sea; marine cargo insurance can shield your shipments from a wide variety of accidents, theft, and natural disasters.
Why You Need Freight Insurance
Insuring your cargo plays a vital role in the long term success of your business’s supply chain. With constant unknowns as your cargo moves from origin to destination, neglecting to insure your shipment could be disastrous for your business.
Catastrophe happens, and if your products are not adequately insured, it can be difficult to reclaim the full value of your products. China Freight insurance can protect you against theft, damage during transit, rough handling, exposure to elements, and vessel accidents.
The risks that can occur during transit can be impossible for shipping customers and freight forwarders to control. It can be challenging to hold shipping carriers liable for their mistakes, which is why the importance of protecting yourself is paramount.
Types of China Freight Insurance
Single Coverage
Single coverage is excellent for those shipping on a per-shipment, irregular basis. This coverage option is a cost-effective way to insure your cargo anytime it gets shipped.
Open Coverage
Ideal for customers shipping consistently, open coverage plans offer a great way to get coverage for all shipments on an annual basis.
All-Risk Coverage
All-risk coverage will protect your cargo from all potential threats. While restrictions apply, this type of insurance is similar to a full-coverage plan.
Named Perlis Coverage
For insuring against the notable risks, named perils coverage can protect freight from non-delivery, collisions, bad weather, theft, and acts of God.
General Average Coverage
For ocean cargo, in the event the vessel has problems at sea, all cargo owners must share in the cost of recouping losses. General average coverage insures you against this liability.
Extending Carrier Liability
While shipping carriers are often required to hold valid insurance, most vessels do not insure the cargo aboard or are not liable for the cargo’s full value. No industry is perfect, and due to the probability of risk during transportation, insurance can always be a viable option for shipping customers hoping for complete peace of mind throughout the shipping process.
The Guided Imports logistics team does everything to ensure the smooth movement of all of our customer’s cargo. Risk factors out of anyone’s control exist, and we strive to do everything within our power to advise our customers on ways they can further protect their cargo and their business.
Covering More than Your Losses
It is never a good thing when an insurance claim needs to be filed. While freight insurance is meant to cover the cargo’s cost, the total losses can be higher for a business. We offer insurance options that can increase the insured value.
Most basic cargo insurance plans cover the cost of the products, not the MSRP value. Most shippers opt to increase their coverage between 10 and 30%.
A Cost Worth Carrying
Freight insurance from China is an inexpensive piece of coverage that will save any business when taking advantage of it. We have built our business by developing practices that make shipping from China seamless and stress-free. While we believe our shipping track record can speak for itself, the law of averages tells us, mistakes in transit are bound to happen.
Guided Imports recommends all customers to obtain an insurance policy on any shipment they cannot afford to lose.
We Make it Easy to Recover Your Losses
When filing a claim, our insurers will work directly with you to assist with the filing. We rely on insurance agents at the cargo destination to facilitate the process with our customers and work with them directly to file all claims.
Rest assured, if disaster strikes, your agent will be located in your country, and not in China.